Mastercard has announced the inaugural Women SME Leaders Awards 2022, the first initiative of its kind to recognise and further empower women-owned and run SMEs in the Middle East and Africa (MEA).

Nominations were open for the awards till February 28, 2022 while those interested in attending the virtual awards ceremony, during which the winners will be announced on March 29 can register.

Small enterprises in trading owned and run by women and with a turnover of less than $13.6 million and employing between six and 50 people can participate.

All female individuals or businesses who have their headquarters or offices in the Middle East and Africa or offer their services to these markets can submit their nominations for one or more of the 22 awards. The awards allow for individuals to win in more than one category.

“At Mastercard, we believe that women-owned businesses are the catalyst for economic growth, improving the lives of everyone, everywhere. The passion that women SME owners display is unmatched and they raise the bar for everyone. That is why Mastercard has curated the Women SME Leaders Awards to recognise and celebrate women entrepreneurs across Middle East and Africa,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA for Mastercard.

The awards are jointly curated by the Entrepreneur Middle East team who will vet shortlisted companies and then pass onto the judging committee that will be chaired by Mastercard.

Following the independent evaluation of the shortlisted candidates by each of the judges, the winners will be decided by a vote. The Women SME Leaders Awards 2022 judging committee consists:

• Amnah Ajmal;

• Mona Zulficar, Chairperson, EFG Hermes Holding;

• Nejoud Al Mulaik, Director of Fintech Saudi; and

• Tamara Pupic, Managing Editor of Entrepreneur Middle East.

The awards stemmed out of the inaugural Mastercard SME Confidence Index conducted last year which revealed that 81 per cent of women entrepreneurs in the MEA have a digital presence for their businesses, compared to 68 per cent of their male counterparts. In terms of the digital footprint of these women entrepreneurs, social media (71 per cent) leads the way, followed by a company website (57 per cent).

These findings were aligned with Mastercard’s global commitment to connect 25 million women entrepreneurs to the digital economy by 2025, as part of its goal to build a sustainable world.